DigitalBridge Group, Inc. (NYSE:DBRG) Sees Large Decline in Short Interest

DigitalBridge Group, Inc. (NYSE:DBRG) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 378,969 shares, a decrease of 97.7% from the September 15th total of 16,251,269 shares. Based on an average trading volume of 6,424,649 shares, the short-interest ratio is currently 0.1 days. Approximately 0.2% of the company’s stock are sold short.

Hedge Funds Weigh In On DigitalBridge Group

Several hedge funds have recently made changes to their positions in DBRG. Tidal Investments LLC lifted its stake in DigitalBridge Group by 135.1% during the 2nd quarter. Tidal Investments LLC now owns 497,438 shares of the company’s stock valued at $7,850,000 after acquiring an additional 285,866 shares during the period. Engineers Gate Manager LP purchased a new position in shares of DigitalBridge Group during the second quarter worth $529,000. Nykredit A S purchased a new position in shares of DigitalBridge Group during the second quarter worth $49,000. Corient Private Wealth LP raised its holdings in shares of DigitalBridge Group by 98.3% during the second quarter. Corient Private Wealth LP now owns 19,985 shares of the company’s stock worth $315,000 after purchasing an additional 9,909 shares during the last quarter. Finally, OceanIQ Capital LLC purchased a new stake in DigitalBridge Group in the second quarter valued at $461,000. 92.69% of the stock is owned by institutional investors and hedge funds.

DigitalBridge Group Price Performance

Shares of NYSE:DBRG traded up $0.01 during trading hours on Friday, hitting $16.00. The company’s stock had a trading volume of 4,811,658 shares, compared to its average volume of 5,392,103. DigitalBridge Group has a 52 week low of $8.94 and a 52 week high of $16.00. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 10.39 and a beta of 1.45. The firm’s fifty day moving average price is $15.94 and its 200 day moving average price is $15.76.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.01 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. DigitalBridge Group’s dividend payout ratio is 2.60%.

Wall Street Analyst Weigh In

DBRG has been the topic of a number of recent research reports. Weiss Ratings downgraded DigitalBridge Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, August 31st. Wall Street Zen raised DigitalBridge Group to a “hold” rating in a report on Saturday, September 5th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.00.

DigitalBridge Group Company Profile

DigitalBridge Group, Inc (NYSE: DBRG) is an alternative asset manager focused on digital infrastructure. The company manages investment strategies and invests in businesses that support the growth of digital communications and data services, including data centers, wireless infrastructure, fiber networks, small cells, edge infrastructure and related technologies.

Through its investment platforms and portfolio companies, DigitalBridge provides capital and strategic support to infrastructure owners and operators serving telecommunications companies, cloud providers, enterprises and other technology customers.